Jinyuan Cement Co Ltd company has approved of its subsidiaries acquisition of Shanghai Huayu Environmental Technology Co Ltd. Directors of Jinyuan Cement approved Golden Circle Cement Co Ltd's acquisition of the technology company.
Through Golden Circle Cement Co Ltd, Jinyuan Cement Co now has a 51 per cent stake in Shanghai Huayu Environmental Technology. The acquisition was made to speed up the pace of environmental development strategy, and actively promote the cement kiln co-processing of solid waste disposal.
Meanwhile, Jinyuan Cement Co says it will boost capital at Jiangsu-based tech unit by CNY29.3m (US$4.41m) to invest in project related to comprehensive utilisation of sludge.
